As Argentine Banker Delivers Proposal, Will Holdouts Bend?

A last minute deal from a private Argentina bank may avert an Argentine government default on its bonds, if the holdout creditors accept their less than desired terms.

Other countries may  follow Argentina's default lead

In an unusual last minute drama twist, a former Argentine Economy Minister, Sebastian Palla, is reported as offering to purchase the holdout hedge fund’s positions on behalf of a consortium of Argentine institutional investors, in a bid to avert a default and potentially a nasty international incident. As previously reported in ValueWalk, Argentina defaulting and then receiving financing from China and...